Whether you’re the CEO of a multinational firm or you work in human resources and you’re looking for employee retention ideas and techniques, then you’ve come to the right place.
We all know the benefits of high retention rate, and in many ways how to retain staff within an organization, but sometimes it can be easy to overlook the simpler aspects of dealing with employees, leaving you to scratch your head and wonder what’s all going wrong in the office.
However, the good news is that there are lots of effective employee retention strategies that you can try if you’re haemorrhaging staff and want to improve retention, including the use of Sinnaps project management software. To give you a helping hand, we’ve rounded up some of our top tips on how to retain employees in an organization…
Use benefits for retaining employees in the workplace
There are lots of strategies for retaining employees in the workplace, but one of the simplest and most proven techniques is to offer your staff more company benefits. Particularly useful in competitive industries, where salary and company culture can determine whether or not your business can attract top talent, it makes sense to develop an employee retention project and offer your skilled workforce more benefits and bonuses for staying loyal to your brand.
There are endless benefits to consider, but some of the most common and popular include offering health insurance, giving employees additional days of vacation and time off, adding performance bonuses to inspire confidence and motivation within your team, and giving paid sick days so that employees can rest when they’re feeling down, rather than dragging themselves into the office, only to deliver sub-standard work and feel worse in the process.
Other benefits include adding more flexibility to their schedule, giving discounts on goods and services, offering gym memberships, paying for their development, and introducing a diversity program to encourage more employees from minorities to apply for senior roles.
Reduce the cost of high employee turnover with interviews
If you’re looking to build a high retention team of experts to take your business to the next level and reduce the cost of high employee turnover, then you should understand exactly where you’re going wrong. When an employee hands in their notice, make sure you sit them down for an exit interview and find out why they’ve chosen to work for another company.
Sure, ignorance may be bliss, but if you’re losing lots of employees to a competitor or your staff simply don’t want to work for you, then you need to know. Find out why your employee started looking for another job, why they chose to accept another position, and what more you could have done to persuade the talent to stay at your company. You must grow a thick skin and be prepared for criticism – and then be ready to act on that feedback to improve your company culture and understand how to retain staff within your organization.
Develop a talent retention strategy
Another way to ensure your staff stays put is to develop a talent retention strategy that starts from the onboarding process. There are a number of human resources retention strategies, but the most successful include mentorship programs, where all new recruits are assigned an expert to handle their workflow and give them the knowledge and confidence they need to thrive, or overhauling your communication and feedback so that employees feel like they are being listened to. Sit down with your current staff, both those who are satisfied and those who are disgruntled, and get to the bottom of your problems to develop an action plan.
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Add training to staff retention strategies
We’ve covered a few very popular employee retention methods in this article, but the next point on our list relates to training. Training is, without a doubt, one of the most important skill retention strategies for small businesses, as it’s the only way that they can compete against larger firms who have more resources to put behind their recruitment and staff development.
Whether you offer training in-house or you outsource to a local specialist, make sure your staff is on a continuous development program, so that they feel like they’re progressing within your company and are adding new skills to their bow. Not only will this increase job satisfaction, but it’ll allow you to build a team of exceptional talent and reduce staff turnover.
Build Sinnaps into your employee retention plan
One of the biggest reasons why employees become disconnected and frustrated with their jobs is because of a lack of communication. With Sinnaps, employees can plan projects, manage tasks, work as part of a team, log their progress, and so much more, which not only increases communication in-house but allows you to monitor performance and engagement.
Trusted by names include Deloitte, Creative Advantage, Kellogg’s, Telefonica, and Matriz, it makes sense to join the more than 10,000 businesses that have added Sinnaps to their employee retention plan, not only to increase engagement and satisfaction but to improve communication levels, control costs, reduce staff turnover, and optimize your resources.
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Employee Retention: How to increase it?